Article 216. Execution of Debt Restructuring Plan for Natural Person

The debtor, who is a natural person, at the request of the financial manager, shall provide information on the implementation of the plan for restructuring the debt of a natural person.

Not later than one month before the expiration of the deadline for the implementation of the debt restructuring plan for a natural person, the financial manager shall be obliged to prepare a report on the results of the implementation of the debt restructuring plan for a natural person.

A report on the implementation of the debt restructuring plan of a natural person with copies of documents confirming the repayment of creditors' claims shall be sent to creditors and the relevant authorized body, whose claims are included in the debt restructuring plan of a natural person, as well as to the court.

If creditors' claims included in the debt restructuring plan of a natural person are not satisfied as of the date of consideration of the report specified in part one of this article, or the report is not submitted within the time period specified in part one of this article, the financial manager, creditor or the relevant authorized body shall convene a meeting creditors.

If the claims of creditors included in the plan for restructuring the debt of a natural person are not satisfied as of the date of consideration of the report, the meeting of creditors shall consider the issue of applying to the court with a petition for early termination of the procedure for restructuring the debt of a natural person and declaring the natural person bankrupt and initiating the procedure for selling their property.

The meeting of creditors must be held no later than fourteen days before the expiration of the deadline for the implementation of the plan for restructuring the debt of a natural person.

The report and (or) petition of the meeting of creditors on the early termination of the procedure for restructuring the debt of a natural person and declaring a natural person bankrupt and on the beginning of the procedure for the sale of their property, as well as complaints of creditors, shall be considered at a court trial. Based on the results of the consideration, the court shall issue one of the following judicial acts:

ruling on the completion of the procedure for restructuring the debt of a natural person in the event that the creditors' claims provided for by the plan are satisfied and (or) the creditors' complaints are recognized as unfounded;